Mark Cuban says cryptocurrencies are better than gold for the environment after Tesla halts Bitcoin payments over sustainability concerns

Mark Cuban says cryptocurrencies are better than gold for the environment after Tesla halts Bitcoin payments over sustainability concerns

Mark Cuban late on Wednesday he believes cryptocurrencies are a more environmentally friendly way to store wealth than gold, in response to Elon Musk announcing Tesla would stop accepting bitcoin as a form of payment. Cuban tweeted that his basketball team, the Dallas Mavericks, would continue accepting bitcoin, dogecoin and ether payments for tickets and merchandise. "We know that replacing Gold as a store of value will help the environment...shrinking big bank and coin usage will benefit society and the environment" Cuban tweeted, referencing research on the environmental impact of gold storage and bitcoin mining. The papers Cuban referred to separately argue that gold mining has high environmental costs and that most energy used in the bitcoin mining process is renewable. Billionaire investor Cuban is a big advocate of cryptocurrencies and has encouraged the use of them as an investment, payment method and even as a tool for children to learn about money. The Mavericks began accepting cryptocurrencies as payment for tickets and merchandise in 2019 and now take bitcoin, ether and dogecoin tokens. After being asked whether people actually used cryptocurrencies to buy Mavericks articles following Cuban's statement last night, he they were making thousands of dollars a week